Siberians Cut Spending Abroad by More Than 40%

The volume of Russians’ spendings abroad decreased by 78 per cent and amounted to over 280 million rubles. Most of them were in the top 10 most visited countries, where the number of card transactions exceeded 90,000 and decreased by 1.5 times compared to last year. In total, in the summer of 2020, VTB cardholders spent 5.7 billion rubles abroad, having completed 3 million transactions, which is 77 per cent lower than in June-August 2019, om1.ru reports.  

It is stated that Turkey, Spain, Italy, Belarus, USA, France, Germany, Great Britain, Cyprus, and Finland entered the list of top 10 countries in terms of spending by VTB clients as a whole in Russia this summer. In the countries of the top ten, the volume of Russians’ purchases this season amounted to more than 3.5 billion rubles (decrease by 79 per cent), while the number of transactions decreased by 72 per cent and amounted to 1 million.

“In general, the segment of international travel in the summer predictably showed a serious decline, and a significant part of our compatriots rested in Russia. Undoubtedly, this summer has demonstrated the high potential of domestic tourism, and we hope that fellow citizens will continue their active travel around the country,” the Head of Debit Cards and Accounts at VTB, Ksenia Andreeva, said.

It is noted that the second half of the summer, spending by Russian residents on travel around the country increased 1.5 times (up to 9.5 billion rubles) and reached the level of the last year. The most dynamic growth in tourist activity was recorded in the Krasnodar Territory, where Russians’ spending on travel, restaurants, and entertainment grew by 46 per cent.

Ru-Main, 16.09.2020 



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